Iraq Economic News and Points to Ponder Saturday Afternoon 2-24-24
Iraq Economic News and Points to Ponder Saturday Afternoon 2-24-24
Tlm724 Administrator Bondlady’s Corner
The National Security Advisor Reveals A Political Consensus That Iraq Should Be Free Of Foreign Forces
Saturday 24, February 2024 | a wish Number of readings: 375 Baghdad / NINA / National Security Advisor Qasim Al-Araji revealed a political consensus that Iraq should be free of foreign forces.
Al-Araji said during the sixth Baghdad Dialogue Conference, which was titled (Regional Communication... The Centrality of Iraq), “Our security forces have developed greatly and gained great experience in dealing with the challenges of terrorism, and the Iraqi government does not deny the gratitude of the countries that helped it confront terrorism, and NATO is still present in Iraq and is advisory and not A combat force.”
Al-Araji stated: “The Iraqi government is waiting for the results of the committees to evaluate the situation in Iraq and the status of the international coalition, and it is an internal issue determined by the Iraqi need,” stressing that “the coalition forces are not an alternative to the security forces, and they came in a certain circumstance, and today there is no need for their presence.” The government is the first concerned with the decision to end the coalition’s tasks.”
Iraq Economic News and Points to Ponder Saturday Afternoon 2-24-24
Tlm724 Administrator Bondlady’s Corner
The National Security Advisor Reveals A Political Consensus That Iraq Should Be Free Of Foreign Forces
Saturday 24, February 2024 | a wish Number of readings: 375 Baghdad / NINA / National Security Advisor Qasim Al-Araji revealed a political consensus that Iraq should be free of foreign forces.
Al-Araji said during the sixth Baghdad Dialogue Conference, which was titled (Regional Communication... The Centrality of Iraq), “Our security forces have developed greatly and gained great experience in dealing with the challenges of terrorism, and the Iraqi government does not deny the gratitude of the countries that helped it confront terrorism, and NATO is still present in Iraq and is advisory and not A combat force.”
Al-Araji stated: “The Iraqi government is waiting for the results of the committees to evaluate the situation in Iraq and the status of the international coalition, and it is an internal issue determined by the Iraqi need,” stressing that “the coalition forces are not an alternative to the security forces, and they came in a certain circumstance, and today there is no need for their presence.” The government is the first concerned with the decision to end the coalition’s tasks.”
Al-Araji continued, “We have competent officers among the committees that work to evaluate the status of the international coalition.”
He stressed: “Building confidence internally, regionally, and internationally is important, and the political system has regained the confidence of the Iraqis, and Iraq does not interfere in the affairs of others, and in the same way Time asks others not to interfere in its affairs, and everyone must support the government in its speech, and there must be solidarity work among everyone, and our efforts are focused on supporting the government.” Al-
Araji pointed out: “Iraq has signed 20 security memorandums of understanding with countries during the years 2022 and 2023, from "For the sake of cooperation and exchange of experiences, the political system after 2003 was preoccupied with security issues and challenges that prevented it from performing its duties."
He stated, "Drugs are the greatest threat, not ISIS. What is said about the numbers of ISIS in Iraq is exaggerated, and the political system after 2003 inherited a heavy reality represented by the presence of armed groups on its lands."
He said, "In 2023, we concluded a security agreement with the Iranian side, and positive results were achieved within months for problems that have persisted for many years. We have a second round of meetings with Turkey, to address the situation of the Kurdistan Workers' Party, and the Prime Minister directed to expedite the treatment of this important file," noting that "the camp The Syrian terror is a time bomb, and Iraq returned 1,924 Iraqi families from this camp, including 7,556 Iraqi citizens, including 1,200 Iraqi families who returned to their original areas, and we have no social problems in this regard.”
Al-Araji called on the international community to continue withdrawing nationals from this camp, and so far only 24 countries have responded and returned their nationals out of 60 countries./ End 7
The Dollar Declines In Local Markets
Economy | 10:41 - 02/24/2024 Mawazine News – Baghdad Today, Saturday, the exchange rates of the dollar against the dinar recorded a slight decline in the Baghdad Stock Exchange and the rest of the governorates,
and the dollar exchange rates decreased in the capital, Baghdad, to record 151,900 Iraqi dinars for 100 dollars. Below are the dollar exchange rates in the rest of the governorates:
$100 = 152,150 Basra $100 = 151,750 Erbil $100 = 152,000 Kirkuk $100 = 151,800 Sulaymaniyah $100 = 151,800 Dohuk $100 = 152,150 Najaf $100 = 151,800 Mosul
https://www.mawazin.net/Details.aspx?jimare=242640
Iraqi Expectations That The World Population Will Rise To 9.5 Billion People.. What About Oil Production?
Economy News – Baghdad The Iraqi Oil Minister, Hayan Abdul Ghani, expected today, Saturday, that the world population will rise to 9.5 billion people in the middle of the current century, indicating that this will increase OPEC’s oil production ceiling to 116 million barrels per day.
Oil Minister Hayan Abdul Ghani said, in his speech during the “Sixth Baghdad Dialogue Conference” held in the capital, and attended by the “Al-Iqtisad News” correspondent, that “the state budget depends mainly on oil imports, and there is a great responsibility that falls on the Ministry to provide the main source to sustain Iraqi state budget.
He added, "The ministry has developed an ambitious plan to increase production, but we are major parts of OPEC and one of its founders, so we are committed to production ceilings."
Abdul Ghani continued, "Iraq's production, according to its OPEC quota, amounts to 4 million (barrels per day), and this comes to maintain the stability of global market prices and achieve a balance between supply and demand."
He stated that “studies indicate that during the middle of this century, crude oil production from OPEC will increase by 16%, as the organization now produces 100 million barrels, and the ceiling will rise to 116 million barrels per day,” explaining that “the need comes within the framework of growth.” The world population will rise from 8 billion to 9.5 billion people, with an increase of one and a half billion people.” 70 views 02/24/2024 - https://economy-news.net/content.php?id=40815
Oil Prices Record Weekly Losses As Hopes For A Rate Cut Diminish
Saturday 24, February 2024 | Economical Number of readings: 418 Baghdad / NINA / Oil prices fell by approximately 3% at the end of the evening settlement yesterday, Friday, and it was recorded that the reduction in interest rates may be postponed for at least another two months.
Brent crude futures fell $2.05, 2.5%, to $81.62 per barrel upon settlement, and US West Texas Intermediate crude futures fell $2.12, 2.7%, to $76.49.
Brent fell 2% during the week, while US crude fell more than 3%. But indicators of good demand for fuel and concerns about supplies may lead to a recovery in prices in the coming days, according to Reuters.
Christopher Waller, a member of the US Central Bank's Board of Governors, said on Thursday that the central bank's decision-makers must postpone interest rate cuts for at least another two months, which may lead to a slowdown in economic growth and curb demand for oil./
https://ninanews.com/Website/News/Details?key=1109416
To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/
Provoking Points To Ponder From- QUOTES BY KAHLIL GIBRAN
Work is love made visible. And if you cannot work with love but only with distaste, it is better that you should leave your work and sit at the gate of the temple and take alms of those who work with joy.
Yes, there is a Nirvanah; it is in leading your sheep to a green pasture, and in putting your child to sleep, and in writing the last line of your poem.
You give but little when you give of your possessions. It is when you give of yourself that you truly give.
Friendship is always a sweet responsibility, never an opportunity.
Doubt is a pain too lonely to know that faith is his twin brother.
You pray in your distress and in your need; would that you might also pray in the fullness of your joy and in your days of abundance.
The obvious is that which is never seen until someone expresses it simply.
Your daily life is your temple and your religion.
The biggest thing in today's sorrow is the memory of yesterday's joy
We choose our joys and sorrows long before we experience them.
Reason, ruling alone, is a force confining; and passion, unattended, is a flame that burns to its own destruction.
Much of your pain is the bitter potion by which the physician within you heals your sick self.
Your pain is the breaking of the shell that encloses your understanding
Ever has it been that love knows not its own depth until the hour of separation.
Life without love is like a tree without blossom and fruit.
The chemist who can extract from his heart's elements compassion, respect, longing, patience, regret, surprise, and forgiveness and compound them into one can create that atom which is called love.
Famous Quotes and Authors, Famous Quotations for all Occasions
"Tidbits From TNT" Saturday 2-24-2024
TNT:
Tishwash: Al-Araji: There will be a return of gratitude to the international coalition countries that provided to Iraq
National Security Advisor Qasim Al-Araji said on Saturday that the federal government will conclude bilateral security agreements with the countries of the international coalition forces led by the United States of America as a response to what they provided to Iraq in the war against ISIS, and there will be no rift with them if they withdraw from the country. .
Al-Araji's statements came during a dialogue session on the sidelines of the sixth Baghdad International Conference, which began this morning.
Al-Araji said in his statements that drugs have become the first danger in Iraq. ISIS is present in some remote places such as mountains and caves, and the security and intelligence services have accurate information about this presence, and are targeting the organization’s leaders.
Regarding the statistics that some reports indicate that there are 5-6 thousand members of the organization in Syria and Iraq, Al-Araji said: This number is exaggerated.
TNT:
Tishwash: Al-Araji: There will be a return of gratitude to the international coalition countries that provided to Iraq
National Security Advisor Qasim Al-Araji said on Saturday that the federal government will conclude bilateral security agreements with the countries of the international coalition forces led by the United States of America as a response to what they provided to Iraq in the war against ISIS, and there will be no rift with them if they withdraw from the country. .
Al-Araji's statements came during a dialogue session on the sidelines of the sixth Baghdad International Conference, which began this morning.
Al-Araji said in his statements that drugs have become the first danger in Iraq. ISIS is present in some remote places such as mountains and caves, and the security and intelligence services have accurate information about this presence, and are targeting the organization’s leaders.
Regarding the statistics that some reports indicate that there are 5-6 thousand members of the organization in Syria and Iraq, Al-Araji said: This number is exaggerated.
He added that in 2014, we were required to bring friendly forces to help us confront ISIS, and from 2014 to 2024 our forces developed a lot and have experience in confronting organizations, and therefore the government formed from all sectors decided to re-evaluate the presence of these forces.
Al-Araji went on to say that there will be a return of the favor in the form of concluding bilateral security agreements with the countries of the international coalition, and these countries welcome this matter and there is no objection on their part.
The National Security Advisor also confirmed that the NATO coalition is in Iraq for consultation, and they are not combat forces, and international cover is there. We have not severed relations with the international coalition, and there are negotiations with them, and the Iraqi government is awaiting the results of the committees. link
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Tishwash: The Iraqi governorates that decided to suspend working hours next Monday
A number of Iraqi governorates decided to suspend official working hours next Monday (February 26, 2024).
The governorates of (Karbala, Muthanna, Babil, Wasit, Maysan, Basra and Dhi Qar) announced, until preparing the news, the suspension of official working hours next Monday, on the occasion of the Shaabani visit.
The holiday excluded security, service and health departments in the aforementioned governorates. link
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CandyKisses: A thousand cards and 250 million dinars. Qi Card counts its participation in the book fair
Economy News - Baghdad
The International Smart Card Company (K-Card) revealed on Friday the results of its participation in the Iraq International Book Fair.
The director of the awareness department in the company, Muhammad Ali Saeed, on the sidelines of his participation in one of the sessions of the Iraq International Book Fair, and attended by the correspondent of "Economy News", that "the global company for smart card (Key Card) issued during the exhibition more than a thousand electronic payment cards", noting that "the purchase movements through the cards exceeded the 1500 movements."
He added that "the value of the amounts paid through these cards ranges between 30 or 40 million dinars," noting that "the value of the amounts that visitors loaded their card with exceeded the barrier of 250 million dinars."
Ali stressed "the need for integration between citizens' electronic accounts and their bank accounts because this would facilitate many banking operations inside and outside Iraq
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CandyKisses: Seizure of accused of bribery, manipulation and waste of 426 million dinars in Dhi Qar
Economy News - Baghdad
The Federal Integrity Commission announced on Friday the seizure of those accused of bribery and manipulation, while revealing that it had monitored waste worth more than four hundred million dinars, and the seizure of expired medical materials in Dhi Qar.
The Authority's Information and Government Communication Office said in a statement, seen by "Economy News", that "the staff of the Dhi Qar Investigation Office, which moved to the Real Estate Registration Directorate in Nasiriyah, caught one of the directorate's surveyors red-handed receiving bribes with the flagrante delicto, indicating that the seizure process was carried out in accordance with the provisions of Resolution (160 of 1983), after the accused received the bribe amount in exchange for completing a transaction in violation of the law."
The statement added that "the staff of the Commission monitored the monitoring of an accused who buys receipts for the transactions of allocating land plots and official documents (national card - housing card - civil status identity) from citizens for the purpose of allocating and selling them to other people in exchange for sums of money, in order to obtain plots of land in the names of other people, noting the arrest of the accused after a tight ambush by the staff of the Commission's investigation office."
He explained that "the Dhi Qar Reconstruction Fund caused a waste of public money as a result of the failure to take legal measures against a general contracting company to which the project to deliver electricity to a group of villages in the Dawaya district was referred to an amount of (2,335,309,000) two billion dinars, despite exceeding the contractual period for the completion of the project."
He pointed out that "the report of the External Audit Division stated that the Fund did not collect the amount of the delay fine imposed on the company under the terms of the contract, which totaled (426,193,710) million dinars."
He continued, "The field emergency team in the office noticed during an inspection tour at Nasiriyah Teaching Hospital the presence of expired diabetic examination strips," pointing out that "the hospital administration allowed the use of these chips in the examination of patients in the hospital despite that
Mot: .... Has a very !!!!!! Happy weekend
Mot: ... hoping this brightens your day
MilitiaMan: IRAQI DINAR - FEDERAL COURT DECISION - IQD - NUMBERS & DETAILS - 2024 BUDGET - PMs Office - Read It
IRAQI DINAR - FEDERAL COURT DECISION - IQD - NUMBERS & DETAILS - 2024 BUDGET - PMs Office - Read It
MilitiaMan and Crew: 2-24-2024
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
IRAQI DINAR - FEDERAL COURT DECISION - IQD - NUMBERS & DETAILS - 2024 BUDGET - PMs Office - Read It
MilitiaMan and Crew: 2-24-2024
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraq Economic News and Points to Ponder Friday Evening 2-23-24
Iraq Economic News and Points to Ponder Friday Evening 2-23-24
Tlm724 Administrator Bondlady’s Corner
The Central Bank Denies That There Is A Problem With The Liquidity Of The Iraqi Dinar
Economy | 02/23/2024 Mawazine News – Baghdad Today, Friday, Central Bank Governor Ali Al-Alaq denied the existence of a problem with the liquidity of the Iraqi dinar, while indicating the imminent launch of the new mechanism for travelers to obtain the dollar.
Al-Alaq said in a statement, “What is being raised and rumored about the existence of a problem with the liquidity of the Iraqi dinar is untrue, and that the Central Bank is continuing the process of responding to requests related to liquidity, as well as the Ministry of Finance.”
He pointed out, "The Central Bank is developing the mechanism for passengers to obtain dollars smoothly at Iraqi airports, some of which have completed the system with the presence of relevant exchange companies and banks distributing dollars."
Al-Alaq pointed out, “The new mechanism will go into effect soon, and the traveler will obtain the dollar by registering through the platform and receiving it at the airport to ensure that the dollar reaches the real traveler.”
Iraq Economic News and Points to Ponder Friday Evening 2-23-24
Tlm724 Administrator Bondlady’s Corner
The Central Bank Denies That There Is A Problem With The Liquidity Of The Iraqi Dinar
Economy | 02/23/2024 Mawazine News – Baghdad Today, Friday, Central Bank Governor Ali Al-Alaq denied the existence of a problem with the liquidity of the Iraqi dinar, while indicating the imminent launch of the new mechanism for travelers to obtain the dollar.
Al-Alaq said in a statement, “What is being raised and rumored about the existence of a problem with the liquidity of the Iraqi dinar is untrue, and that the Central Bank is continuing the process of responding to requests related to liquidity, as well as the Ministry of Finance.”
He pointed out, "The Central Bank is developing the mechanism for passengers to obtain dollars smoothly at Iraqi airports, some of which have completed the system with the presence of relevant exchange companies and banks distributing dollars."
Al-Alaq pointed out, “The new mechanism will go into effect soon, and the traveler will obtain the dollar by registering through the platform and receiving it at the airport to ensure that the dollar reaches the real traveler.” https://www.mawazin.net/Details.aspx?jimare=242605
The Central Bank Promises To Develop A New Mechanism For Delivering Dollars At Airports
Friday 23, February 2024 | EconomicalNumber of readings: 109 Baghdad / NINA / The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced the development of a new mechanism for delivering the dollar at Iraqi airports to ensure that the dollar reaches real travelers.
Al-Alaq said in a press interview, “The new mechanism includes registration through an electronic platform and receipt at the airport by the traveler, indicating that the system and the presence of the relevant exchange companies have been completed in some airports, and the mechanism will be launched very soon.”
The Governor of the Central Bank confirmed that “there is no problem with the availability of the Iraqi dinar or liquidity, and that the Central Bank has not stopped for a moment in responding to requests related to liquidity and what is related to the Ministry of Finance.”
He pointed out that “the Central Bank pays great attention to electronic payment and electronic collection, and that it cooperates with the Prime Minister, government institutions and the private sector to enhance this field,” considering that “the launch was very successful and the size of the numbers reflects this.”/ End 9 https://ninanews.com/Website/News/Details?key=1109309
Prime Minister: We Are Close To Securing The Country’s Full Needs For Derivatives No Later Than The Middle Of Next Year
Energy Economy News – Baghdad Prime Minister Muhammad Shiaa Al-Sudani confirmed on Friday that he is close to securing all of the country’s needs for derivatives no later than the middle of next year.
The Prime Minister's Media Office stated, in a statement, seen by Al-Iqtisad News, that "Prime Minister Muhammad Shiaa Al-Sudani visited the Al-Shamal Refinery in Baiji, which was rehabilitated after a hiatus that lasted more than 10 years."
The Prime Minister pointed out that "many Iraqis were waiting for this important achievement after the destruction that befell the refinery," recalling "the martyrs and wounded who defended this land and liberated the refinery from the terrorist ISIS gangs, so that a new era would begin whose heroes were the engineers and workers of the Northern Refineries Company who... They took on the challenge of rebuilding this important vital refinery.”
He stressed that "many doubted the return of the refinery materials that were made in cooperation with the Kurdistan Regional Government of Iraq," noting that "with this achievement, we are close to securing the country's entire needs for derivatives, no later than the middle of next year, which will save us billions of dollars that will be invested in In other service and economic aspects, by stopping the import of petroleum derivatives, we will thus achieve the goals of reform.”
Al-Sudani stated, “This government, during its 15 months of existence, has placed the oil and gas sector at the top of its priorities, according to well-thought-out programs and plans to invest this wealth, in a way that achieves the best returns,” stressing, “continuing to prepare a plan for investment projects inside and outside Iraq, in a new policy.” We adopt it by investing oil in the petrochemical and manufacturing industries to obtain the greatest return.”
The Prime Minister said, during a speech he delivered at the opening of the refinery, according to the statement: “We stand with reverence and respect for the martyrs and wounded who defended this land and liberated the refinery from ISIS gangs,” adding: “We visited this refinery in May 2023, to see its reality and look at the equipment.” The recovered machines came at the initiative of citizen Baran Ahmed Younis and with the cooperation of the Kurdistan Regional Government of Iraq.
He pointed out that "Iraq, with its production of more than 4 million barrels per day, is still importing oil derivatives, a policy that has been in place for decades," adding: "With this achievement, we are close to securing the country's entire needs for derivatives, no later than the middle of the year." Next, the champions may surprise us before this date.”
He stressed that "billions of dollars will be saved and allocated to other service and economic aspects by stopping the import of oil derivatives, and this is the real reform," pointing out that "the will and determination of the heroes in the Northern Refineries Company and the supporting national companies achieved this national achievement in 7 months, and it is assumed that The time limit may take 3-4 years.”
He stressed that "Iraq does not accept the impossible, and creates solutions regardless of the difficulties, and it is the strength that we are betting on to face all challenges," noting that "the government has placed the oil and gas sector at the top of its priorities, according to well-studied programs and plans that highlight the importance of investing this wealth, in a way that achieves the best possible results." Returns.”
He continued: "We went to projects implemented for the first time, such as investing in associated gas, and today international companies are working, and the national effort is in more than one site and field, to end gas burning within a time frame of 3-5 years," adding: "We are preparing the plan for investment projects inside and outside Iraq." “In a new policy we are adopting to invest oil in the petrochemical and manufacturing industries to obtain the greatest return.”
He continued his speech: “Our government is moving forward, with full confidence and determination, to provide service to the people in accordance with the government program, and with the support and assistance of members of the House of Representatives,” appreciating “the role of the Energy Committee in Parliament, and its Chairman, who had a major role in recovering the refinery’s materials.”
The Prime Minister also appreciated, according to the statement, “the important role of the members of the House of Representatives from Salah al-Din Governorate for their assistance and support in reviving this refinery,” concluding by saying: “The Baiji refinery returns to be a clear witness to the will, resolve, and persistence of the Iraqi people. 02/23/2024 - https://economy-news.net/content.php?id=40796
Oil Prices Are Declining Globally After A Decline In Demand
Economy | 02/23/2024 Mawazine News – Baghdad Oil prices fell in Asian trading, today, Friday, as investors monitor signs of weak supplies with continued concerns about declining demand.
According to press reports, Brent crude prices witnessed a decline to about $83 per barrel after a 1.6% rise in the previous two sessions, while West Texas Intermediate crude was trading at about $78 per barrel, according to Bloomberg data analysis.
Oil spreads show signs of a stronger market, while US crude inventories expanded less than expected last week.
Although US crude inventories rose less than expected, they remain high for the fourth week in a row. Stocks in the Cushing Center in Oklahoma, which is considered a delivery point for US crude contracts, extended for the second week, but remain below seasonal averages, according to observers
https://www.mawazin.net/Details.aspx?jimare=242594
Weekly Trading Indicators For The Iraqi Stock Exchange
Thursday 22, February 2024 22:06 | Economical Number of readings: 705 Baghdad / NINA / The Iraq Stock Exchange organized five trading sessions today, Thursday, during the third week of February 2024.
A statement from the stock market stated, “During the third week of February 2024, five trading sessions took place from Sunday, 02/18/2024, to Thursday, 02/22/2024. During this week, the following indicators were achieved:
1- reached The number of shares traded during this week was more than (16) billion shares.
2- The value of shares traded this week amounted to more than (16) billion dinars.
3- The market trading index closed for the first session of the week at (910.92) points, while the At the end of the week, the index reached (917.42) points, achieving an increase of (0.71%) over its close at the beginning of the session.
4- During this week (3378) buy and sell contracts for shares of companies listed in the market were executed./End 8 https://ninanews.com/Website/News/Details?key=1109203
To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/
Goldilocks' Comments and Late Global Economic News Friday Evening 2-23-24
Goldilocks' Comments and Late Global Economic News Friday Evening 2-23-24
Good Evening Dinar Recaps,
Currently, we have a lot of stocks that are doing what is called "reverse stock splits." I won't go into detail on what this is, but it is simply reducing the number of stock shares that are provided on the stock market by a company.
This gives a company the ability to manipulate their price. It makes a company look like they are doing better than they really are. Professional traders view this as a negative move to keep their company from being delisted from the markets and sold as penny stocks.
It is an indication that this particular stock has reached a bottom, and the company is attempting to artificially raise its value through a reverse stock split.
Bottom line, the stock market just simply is not doing as well as it appears, and you do have to know what you're doing to be on it at this stage. This is one of many tricks that are being played currently on the stock market to hold its value up artificially.
For this and other reasons, we are witnessing many traders and billionaires move their money from the stock market and into digital asset-based trading. WolfStreet
© Goldilocks
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Goldilocks' Comments and Late Global Economic News Friday Evening 2-23-24
Good Evening Dinar Recaps,
Currently, we have a lot of stocks that are doing what is called "reverse stock splits." I won't go into detail on what this is, but it is simply reducing the number of stock shares that are provided on the stock market by a company.
This gives a company the ability to manipulate their price. It makes a company look like they are doing better than they really are. Professional traders view this as a negative move to keep their company from being delisted from the markets and sold as penny stocks.
It is an indication that this particular stock has reached a bottom, and the company is attempting to artificially raise its value through a reverse stock split.
Bottom line, the stock market just simply is not doing as well as it appears, and you do have to know what you're doing to be on it at this stage. This is one of many tricks that are being played currently on the stock market to hold its value up artificially.
For this and other reasons, we are witnessing many traders and billionaires move their money from the stock market and into digital asset-based trading. WolfStreet
© Goldilocks
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LIVE! What The Fed. Is Planning IS WAY WORSE THAN YOU THINK... Count On It. Mannarino | YouTube
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In the house there has been disagreements on the control of payment stablecoins. | Mr. Man on X
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Goldilocks' Comments and Global Economic News Friday Evening 2-23-24
Goldilocks' Comments and Global Economic News Friday Evening 2-23-24
Good Evening Dinar Recaps,
Hong Kong Central Bank Announcement:
"On Tuesday, the Hong Kong Monetary Authority (HKMA) released an 11-page circular outlining its guidelines for tokenization and digital asset custody for institutions authorized in the region.
The recent guidance from the Hong Kong Monetary Authority (HKMA) supplements the licensing framework introduced last year, providing crypto exchanges with a clear pathway to operate under regulation."
Hong Kong has just recently been given the green light to move forward with their crypto and stablecoin regulations.
Do you remember the pilot program they were on to standardize and move forward with the digital versions of our foreign currency in their sandbox?
It will be important for us to watch as they advance forward with their new guidelines as it will pertain to monetary shifts in prices on the Forex Market. Crypto Times
© Goldilocks
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Goldilocks' Comments and Global Economic News Friday Evening 2-23-24
Good Evening Dinar Recaps,
Hong Kong Central Bank Announcement:
"On Tuesday, the Hong Kong Monetary Authority (HKMA) released an 11-page circular outlining its guidelines for tokenization and digital asset custody for institutions authorized in the region.
The recent guidance from the Hong Kong Monetary Authority (HKMA) supplements the licensing framework introduced last year, providing crypto exchanges with a clear pathway to operate under regulation."
Hong Kong has just recently been given the green light to move forward with their crypto and stablecoin regulations.
Do you remember the pilot program they were on to standardize and move forward with the digital versions of our foreign currency in their sandbox?
It will be important for us to watch as they advance forward with their new guidelines as it will pertain to monetary shifts in prices on the Forex Market. Crypto Times
© Goldilocks
~~~~~~~~~~
Global Banking Announcement:
"In a move that underscores the evolving landscape of international finance, a consortium of leading banks, including BBVA, BofA Securities, ING, Mashreq, Morgan Stanley, and Standard Chartered Bank, has embarked on a pivotal mission. Authorized by an undisclosed bank, these financial titans are set to traverse continents, with meetings scheduled across Asia, Europe, and the United States on February 20, 2024. Their objective is clear yet complex: to assess the appetite of global investors for USD-denominated Basel III compliant Tier 2 notes, a critical component in strengthening the banks' capital structure."
Global Banks are currently preparing for Tier 2 Capital note exchanges under Basel 3 guidelines. Banks are accumulating these foreign currencies to support their banking structures.
What are Tier 2 Capital notes? These notes are designated as second or supplementary layers of a bank's capital. And, they are commonly known as revaluation reserves or foreign currencies.
What makes them revaluation reserves under Basel 3 guidelines is the expectation of an increase in their value due to the backing by gold. Many of the currencies that are coming back onto the market on the local level in countries around the world are being supported by gold reserves.
Basel 3 is what makes these newly reinstated currencies have the need to be repriced on the market offering a Level Playing Field with other currencies around the world. HO1 US Investopedia BNN Breaking
All roads lead to gold, and gold will set us free.
© Goldilocks
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Don't be surprised if Artificial Intelligence doesn't move some of our timelines going forward closer than we would have seen it done without it.
© Goldilocks
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I may leave that article above out to stand alone today for some time. For those of you who still have doubts that this is going to happen, look closely at that article until you finally get it. It's already happening, but it wasn't a push of the button was it?
It always has been, is, and will be a process. One day, we will wake up to new price changes, and it will take us all by surprise.
Your best intel going forward may very well be traders who work these markets.
You know me by now, I do not want you to get too dependent on any intel provider. Watch for yourself rate changes on the CBI.iq
© Goldilocks
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JPMorgan Chase chief Jamie Dimon cashed in about $150 million of his stock in the bank — the first time the head of the largest US lender has sold shares since taking charge in 2005.
Dimon, one of the longest-serving chief executives on Wall Street, unloaded 821,778 shares of JPMorgan, according to an SEC filing Thursday.
The selloff is part of a larger plan the bank revealed in an SEC filing in October to sell 1 million of the 8.6 million shares Dimon and his family own.
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This Housing Market is Still Frozen | Wolf Street
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Iraq Economic News and Points to Ponder Friday Afternoon 2-23-24
Iraq Economic News and Points to Ponder Friday Afternoon 2-23-24
Tlm724 Administrator Bondlady’s Corner
Association Of Banks: Total Government Electronic Collections Amounted To More Than 418 Billion Dinars
Economy Yesterday, 18:34 Baghdad - INA - Wissam Al-Mulla , today, Thursday, the Iraqi Private Banks Association announced statistics on the number of electronic payment cards and the total government collection, which it confirmed amounted to more than 418 billion dinars, while indicating that there are 558 government agencies that have deployed electronic payment tools in their institutions.
The Executive Director of the Iraqi Private Banks Association, Ali Tariq, said in a statement to the Iraqi News Agency (INA):
“There is great interest and support from the Prime Minister to support the Iraqi economy through his support for the private sector,” indicating that “the launch of the electronic collection project comes as a translation of the vision and strategic objectives.” To develop the financial and banking sector in Iraq.
He pointed out that “the number of employee cards in Emiratisation services until June 2023 amounted to (8,653,310),” noting that “the number of cards issued (prepaid, debit, credit) until September 2023 amounted to 17,822,988.”
Iraq Economic News and Points to Ponder Friday Afternoon 2-23-24
Tlm724 Administrator Bondlady’s Corner
Association Of Banks: Total Government Electronic Collections Amounted To More Than 418 Billion Dinars
Economy Yesterday, 18:34 Baghdad - INA - Wissam Al-Mulla , today, Thursday, the Iraqi Private Banks Association announced statistics on the number of electronic payment cards and the total government collection, which it confirmed amounted to more than 418 billion dinars, while indicating that there are 558 government agencies that have deployed electronic payment tools in their institutions.
The Executive Director of the Iraqi Private Banks Association, Ali Tariq, said in a statement to the Iraqi News Agency (INA):
“There is great interest and support from the Prime Minister to support the Iraqi economy through his support for the private sector,” indicating that “the launch of the electronic collection project comes as a translation of the vision and strategic objectives.” To develop the financial and banking sector in Iraq.
He pointed out that “the number of employee cards in Emiratisation services until June 2023 amounted to (8,653,310),” noting that “the number of cards issued (prepaid, debit, credit) until September 2023 amounted to 17,822,988.”
He added, "There are 558 government agencies that have deployed electronic payment tools in their institutions," pointing out that "the total government electronic collection since the activation of the Council of Ministers' decision to publish electronic payment tools through 586,868 transactions amounted to 418,371,127,093 billion Iraqi dinars."". https://www.ina.iq/203655--418-.html
Al-Sudani: Economic and banking reform is one of our most important priorities
February 22 18:04 Information / Baghdad. Prime Minister Muhammad Shiaa Al-Sudani confirmed on Thursday that the government has placed the issue of economic and banking reform among its most important priorities.
Al-Sudani said in a statement received by Al-Maalouma on the sidelines of his meeting with Andrew Toure, the Regional President of Visa for Central and Eastern Europe, the Middle East and Africa, and his accompanying delegation,
“The government has placed the issue of economic and banking reform among its most important priorities, and it seeks and welcomes cooperation in this field,” noting. To approve the electronic payment system in the Council of Ministers.
He praised, "the company's cooperation in expanding electronic payment technology and digital transformation, whether through training workers in Iraq or by contributing to education about the electronic payment process."
For his part, Andrew expressed “the desire to continue cooperation with the Central Bank of Iraq and all Iraqi banking sector institutions,” noting “Visa’s interest in supporting the Iraqi government’s plans towards electronic payment and economic and banking reform, by introducing advanced solutions and technologies to the market, as well as its readiness to bring expertise, in addition to employing more Iraqis in its office in Baghdad, with the aim of reaching 500,000 acceptance points from electronic payment points of sale in Iraq.”
https://almaalomah.me/news/56858/economy/السوداني:-الإصلاح-الاقتصادي-والمصرفي-من-أهم-أولوياتنا
Risk Management Process
https://cbi.iq/static/uploads/news-170860002852481.jpg
February 22, 2024 :diamonds: Risk management process..For more, click here
A Journalist Reveals A Serious Issue Related To The Dismantling Of Industry In Iraq
February 22, 2024 Last updated: February 22, 2024 The Independent/- Iraqi journalist Qusay Shafiq revealed a dangerous issue related to the dismantling of industry in Iraq.
In a post on his Twitter account, Shafiq addressed the story of the modern paint factory, noting that
the process of “blind, corrupt investment, especially the mixed sector, represents a serious problem affecting the national economy.”
He referred to the experience of the Modern Paints Company, which was converted into an investment when the current Prime Minister, Muhammad Shiaa Al-Sudani, was Minister of Industry.
“It is possible to understand how the situation deteriorated after it was converted into a corrupt investment!!” He explained that
one of the main reasons for failure is the lack of investor commitment to implement the measures required to revive the company.
Instead, the investor took advantage of the opportunity to make quick profits at the expense of the company's resources and infrastructure.
Such as “selling the treasury and dismantling production lines,” which reflects exploitation that only serves the interests of the investor himself. He added, “Warehouses and headquarters were rented to people with connections that raise suspicions about the existence of corrupt practices and abuse of influence.”
He also continued, “It failed to implement and monitor the agreement between the government and the investor, as it did not provide sufficient mechanisms to ensure compliance with the investor’s obligations and monitor the proper use of resources.”
The scenario to which the Modern Paints Company was subjected also appears, including the plundering, dismantling, and sale of state lands!” Shafiq concluded,
“This case should be an important lesson for the government and concerned parties in implementing industrial and investment policies instead of mortgaging state factories and companies into the hands of corrupt investors who exploit the story of industrial development in corrupt partnership contracts with the government.” https://mustaqila.com/اعلامي-يكشف-عن-موضوع-خطير-يتعلق-بتفكيك/
Is There Enough Time For The Sudanese Government To Get Out Of The “One-Rent” Prison?
February 22 /Information/report.. After the major reconstruction campaign led by the Sudanese government in Baghdad and a number of Iraqi provinces,
this government began to develop a plan to multiply the country's revenues and remove it from the revenues of the single rent represented by oil.
90 percent of Iraqi revenues depend on oil, which is the sole financier of the state treasury, making federal budgets captive to the impact of the rise and fall of oil prices.
The first sector with multiple revenues for the country is energy investment, especially the gas that Iraq loses from the oil extraction process.
In this regard, the Iraqi Prime Minister, Muhammad Shiaa Al-Sudani, announced earlier the signing of “important” contracts for the investment of natural and associated gas, stressing that the “neglect” of natural and associated gas has caused Iraq to lose many development opportunities.
He added, "For many years, Iraq has depended on oil as a basic resource for the economy and money, and natural and associated gas were neglected, which caused us to lose many development opportunities, in addition to the environmental impacts associated with the oil industry."
He added, "We have begun treatments to develop the oil industry and invest in neglected ones, and we have signed important contracts to invest in natural and associated gas," adding that "the sixth round will be signed soon, which targets important areas of natural gas fields."
He pointed out that "investing in gas will end the waste of gas wealth that costs Iraq approximately 4 billion dollars annually," pointing out that they have placed the government's top priorities as "making room for the private sector and international companies, and providing facilities for them."
He stated that oil "still represents a primary source of energy in the world, and has its importance in politics, economics, development, and the environment, and its importance to countries that depend on it, whether for production or consumption."
The Iraqi Prime Minister stressed that the government “has paid attention, since its formation, to the energy file in all its details, most notably what relates to oil and natural and associated gas,” stressing
cooperation with major companies in the field of energy, including the recent agreement with the French company Total, to achieve integration in energy investment.
And make Iraq an active player in the gas market during the next few years.”
He noted that the world "is searching today for alternatives to traditional energy, and is moving towards alternative energy sources, which will be competitive with oil and gas within a few years," urging the necessity of "making plans to keep pace with global transformations toward alternative energy."
Industry represents one of the most important sectors that provides the country with large, reliable financial resources that fill budget shortfalls.
Economist Bassem Antoun called for attention to the industrial sector, because it could be an essential resource for any country. Antoine told Al-Maalouma,
“The Sudanese government has begun to take good steps to revitalize the industrial sector by granting soft loans to industrialists.”
However, Antoine pointed out an important problem, which is the failure to implement laws and regulations in this regard, which contributed to the exit of a group of merchants who still stand as a barrier to prevent the implementation of these laws and legislations.
In addition, a member of the Parliamentary Services Committee, MP Baqir Al-Saadi, revealed the government’s plans to revive the industrial sector. Al-Saadi told Al-Maalouma,
“The Sudanese government has adopted a tripartite plan to revive Iraq’s largest industrial complexes in 9 governorates through investments, modernization of production lines, and creating a partnership in the supply of important materials and equipment.”
He added, "The revival of the industry will provide thousands of job opportunities within a short period, pointing to the ability of the Iraqi markets to absorb the products, and
this is what creates a positive situation and the continuation of the project to revive important industries during the next 3 years."
For her part, the representative for Dhi Qar Governorate, Ola Al-Nashi, announced that government approvals had been obtained to reactivate and develop four vital factories in the governorate. Al-Nashi told Al-Maalouma,
“The approvals of the Ministry of Industry and Minerals were obtained to complete the industrial city file and connect it with electricity, to pay attention to the Nasiriyah Textile Factory and the Ur Company, to develop mechanisms for marketing their products, and to restart the Chibaish dairy factory.”
Although the Sudanese government has the intention to advance the industrial sector and other sectors, such as agriculture, this matter depends on the time that will reveal in the coming days giant projects that can provide the Iraqi budget with more funds. Ended / 25 AD
https://almaalomah.me/news/56822/economy/هل-يسعف-الوقت-حكومة-السوداني-للخروج-من-سجن-الريع-الواحد
To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/
"Tidbits From TNT" Friday Morning 2-23-2024
TNT:
CandyKisses: Parliamentary Finance: Funds for 2024 projects can only be released after Parliament votes on budget tables
Shafaq News / The Parliamentary Finance Committee confirmed that it is not possible to disburse funds for new projects within the year 2024 until after Parliament votes on the current year's budget tables.
Committee member Jamal Kojar told Shafaq News Agency that "the 2023 budget continues to spend, while the 2024 budget needs tables to be voted on in the House of Representatives."
He added that "the new projects within the 2024 budget cannot be disbursed at the moment, as they need a parliamentary vote on the 2024 budget tables, and these tables have not been seen so far and have not reached us, and we hope to reach them soon."
It is noteworthy that the Iraqi Council of Representatives voted last year on a tripartite budget for the years (2023, 2024, 2025).
TNT:
CandyKisses: Parliamentary Finance: Funds for 2024 projects can only be released after Parliament votes on budget tables
Shafaq News / The Parliamentary Finance Committee confirmed that it is not possible to disburse funds for new projects within the year 2024 until after Parliament votes on the current year's budget tables.
Committee member Jamal Kojar told Shafaq News Agency that "the 2023 budget continues to spend, while the 2024 budget needs tables to be voted on in the House of Representatives."
He added that "the new projects within the 2024 budget cannot be disbursed at the moment, as they need a parliamentary vote on the 2024 budget tables, and these tables have not been seen so far and have not reached us, and we hope to reach them soon."
It is noteworthy that the Iraqi Council of Representatives voted last year on a tripartite budget for the years (2023, 2024, 2025).
Tishwash: Al-Sudani: The government has placed economic and banking reform among its most important priorities
Prime Minister Muhammad Shiaa Al-Sudani confirmed, on Thursday, that the Iraqi government has placed economic and banking reform among its most important priorities, indicating its endeavor to welcome work in this field.
The Prime Minister’s media office said in a statement, seen by Al-Iqtisad News, that “Al-Sudani received, this afternoon, Thursday, Andrew Toure, the regional president of Visa for Central and Eastern Europe, the Middle East and Africa, and his accompanying delegation.”
The Prime Minister stressed, according to the statement, that “the government has placed the issue of economic and banking reform among its most important priorities, and it seeks and welcomes cooperation in this field,” pointing to the approval of the electronic payment system in the Council of Ministers, praising the company’s cooperation in expanding electronic payment technology and digital transformation, Whether through training workers in Iraq or by contributing to education for the electronic payment process.”
For his part, the regional president of Visa expressed “the desire to continue cooperation with the Central Bank of Iraq and all Iraqi banking sector institutions,” noting that “Visa’s interest in supporting the Iraqi government’s plans towards electronic payment and economic and banking reform, by offering advanced solutions and technologies.” To the market, as well as its readiness to bring expertise, in addition to employing more Iraqis in its office in Baghdad, with the aim of reaching 500,000 acceptance points from points of sale for electronic payment in Iraq link
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Tishwash: Washington restricts Iraq to the control of the Federal Reserve... manipulating the country’s capabilities and dominating financial sovereignty
With the principle of tightening the screws from all sides, the United States of America continues to manipulate Iraq’s vital capabilities from time to time, and in parallel with the important events that occur in the political, security and economic arena, given the dictatorship that Washington is implementing towards the country through the Federal Bank, and the delay in sending Iraq’s export funds. Oil for the purpose of causing a liquidity crisis that hinders the work of the government, especially the crisis of delayed release of recurring employee salaries as a result of; Reducing financial releases from America despite the increase in the country’s financial balance during the recent period, amid many calls for the government’s need to move towards achieving economic sovereignty and breaking American hegemony.
*Financial sovereignty?
Speaking about this file, a member of the House of Representatives, Thaer al-Jubouri, accuses the United States of America of controlling Iraq’s funds through the Federal Bank, while he stressed that Washington is creating pretexts to control a number of files.
Al-Jubouri said, in an interview with the Maalouma Agency, that “America is trying to force the country to pay the price of solidarity with the Palestinian cause and a position against the Zionist entity,” pointing out that “achieving economic independence is extremely important for the development of the Iraqi economy.”
He continues, "One of the reasons for the crisis of the rise in the parallel exchange rate of the dollar is the interventions of the US Federal Reserve, which takes decisions and imposes sanctions," adding that "America controls the rise and fall of the dollar price through many of the schemes it follows."
Al-Jubouri concludes his speech by saying, "Washington is always trying to influence the government's steps that seek to achieve economic and military independence for the country," accusing "the United States of America of dominating Iraq's funds through the Federal World Bank."
*Washington conspiracy?
In addition, the economic expert, Nasser Al-Kinani, warned today, Thursday, of a plan to seize Iraqi oil money from the US Federal Bank, while revealing details of a conspiracy against the Iraqi economy.
Al-Kanani said in an interview with the Maalouma Agency, “The sanctions imposed on Iraqi banks contributed to a liquidity crisis for the dollar in the local markets,” noting that “there are fears of stopping the export of money from selling oil to the country.”
He continues, "The Federal Reserve's sanctions on Iraqi banks are intended to benefit the rest of the Arab banks that partner with Washington," pointing out that "the dominance of the United States of America over the Iraqi economy still continues until now."
Al-Kanani added, "The United States of America has issued sanctions against 26 banks so far," considering that "the process of stopping these banks is unjustified and there are no reasons to take measures against them."
The United States of America continues to impose its influence on Iraq in many vital files, including the authority to deposit Iraqi oil sales funds in the US Federal Bank, amid clear blackmail to pass many files, or manipulate the dollar bill, which puts great pressure on the government. link
Mot: My Guardian Angel Was YOUNG and Energetic when I started this TNT Journey... Now Look at Him !!!!!
He Started Out Sooo Positive !!
siiiiiggggghhhhhhh -- and Now!!!!
Iraqi News Highlights and Points to Ponder Friday AM 2-23-24
Iraqi News Highlights and Points to Ponder Friday AM 2-23-24
The Outlets Seized Money In Iraqi Dinars And Dollars Whose Owners Tried To Smuggle Them Out Of The Country
Economy News – Baghdad On Thursday, the Border Ports Authority announced the seizure of funds in Iraqi dinars and dollars whose owners attempted to smuggle them out of the country.
A statement by the authority, seen by Al-Iqtisad News, said: “The Trebil border port was able to arrest an Iraqi traveler in possession of (7) MasterCard cards at the departures checkpoint without declaring them, and after examining them with the POS device at the Civil Customs Center, it was found that the total amounts in them amounted to (52,829,000) fifty-two million eight hundred and twenty-nine thousand Iraqi dinars.”
The statement added, "The Shalamcheh border port was able to arrest an Iraqi traveler in the departure hall who did not have official documents in possession of (62) thousand US dollars. He tried to smuggle it by concealing it in a professional manner." He pointed out, "Their statements were duly recorded and they were referred, along with the seized items, to the competent judicial authorities to take legal measures against them."
Iraqi News Highlights and Points to Ponder Friday AM 2-23-24
The Outlets Seized Money In Iraqi Dinars And Dollars Whose Owners Tried To Smuggle Them Out Of The Country
Economy News – Baghdad On Thursday, the Border Ports Authority announced the seizure of funds in Iraqi dinars and dollars whose owners attempted to smuggle them out of the country.
A statement by the authority, seen by Al-Iqtisad News, said: “The Trebil border port was able to arrest an Iraqi traveler in possession of (7) MasterCard cards at the departures checkpoint without declaring them, and after examining them with the POS device at the Civil Customs Center, it was found that the total amounts in them amounted to (52,829,000) fifty-two million eight hundred and twenty-nine thousand Iraqi dinars.”
The statement added, "The Shalamcheh border port was able to arrest an Iraqi traveler in the departure hall who did not have official documents in possession of (62) thousand US dollars. He tried to smuggle it by concealing it in a professional manner." He pointed out, "Their statements were duly recorded and they were referred, along with the seized items, to the competent judicial authorities to take legal measures against them." 276 views 02/22/2024 - https://economy-news.net/content.php?id=40782
Al-Sudani: 2025 Will Witness Stopping The Waste Of Billions After Being Satisfied With Oil Derivatives[/Size]
Economy | 11:52 - 02/23/2024 Mawazine News – Baghdad Prime Minister Muhammad Shiaa Al-Sudani set the year 2025 as the date to stop the import of petroleum derivatives, during his inauguration of the North Refinery in Baiji. Al- Sudani stated, in a speech during the opening ceremony, that “this achievement and the previous achievements are in order to complete the country’s needs.” Of oil derivatives, the most recent of which was the opening of the Karbala refinery and another in Basra.
He added, “This is today’s great achievement to achieve an important step on the way to declaring Iraq soon, God willing, after completing the rest of the projects no later than mid-2025, and God willing, the heroes will surprise us with a sooner date to announce the completion of Importing oil derivatives and transferring this huge amount of money, billions of dollars, to other aspects. This is the real reform.
He pointed out that "reform is not a single word, it is not just a word, but rather action, planning, and a goal, and this is what we are working on."
He continued, "The other side of this achievement was achieved through national effort as well. When we announced the start of the construction of this refinery, there were those who doubted this promise and said that the reasonable time limit ranged between 3-4 years, and we used to hear this from those who claimed specialization." https://www.mawazin.net/Details.aspx?jimare=242596
"Electronic Payment"... A Nightmare That Haunts A Segment Of Workers In Iraq
2024-02-22 Shafaq News/ With hatred and anxiety, “Al-Bozrji” Muhammad Ali (33 years old) looks at the electronic payment device that was placed next to him, due to which the amount of tips he receives has decreased, and perhaps he may also lose his job in light of the increase in citizens’ acquisition of (Visa Card) cards. In order to refuel.
The Iraqi government seeks to activate the electronic payment service, adopt modern automation systems, and end cash dealing.
Accordingly, the Petroleum Products Distribution Company, affiliated with the Iraqi Ministry of Oil, has set the end of next March as a deadline for cash transactions at government and private fuel filling stations.
The Petroleum Products Distribution Company announced, the day before yesterday, Tuesday, that it had conducted an experiment at the Al-Muthanna station to end human intervention in the processing process, as the quantity is entered into the POS machine and then the quantity is transferred from the electronic payment card.
The company's general manager, Hussein Taleb, explained in a statement, "The companies have worked to connect the fuel dispenser to the POS payment device, and thus the citizen will be able to enter quantities of fuel and pay money without the need for human intervention."
The nightmare of unemployment haunts “Bozerji”
Returning to the worker “Ali,” who has been working at a private gas station in Baghdad for 9 years, he told Shafaq News Agency, “I spend most of my time from the beginning of the day to the end standing near this box called (the cabin) to receive whoever wants to refuel, and to give me some.” Tipping for each supply, but because of electronic payment devices, tipping has begun to decrease.”
Ali, who considers electronic payment systems a threat to his livelihood, continues, “The situation does not bode well, especially for workers in private gas stations, as their owners are talking about the possibility of reducing the number of workers, which will cause an increase in unemployment in light of the lack of appointments and the lack of job opportunities in other sectors.” ".
Electronic payment features
Electronic payment is a system for making or settling payments without the need to use cash. This system has many advantages, the most important of which is eliminating corruption, fraud, and direct bribery in government institutions, ease of trading, raising cash deposit rates in banks and banks, and other benefits.
But Iraq's transition to this globally applicable system is not without fraud, whether by merchants when citizens shop, or by collecting additional amounts under the pretext of the withholding fees currently in effect, especially since society's culture of electronic payment is weak.
Therefore, it is necessary to educate society on trading in it, and to facilitate the opening of bank credits for citizens for the purpose of issuing electronic cards smoothly and without obstacles, according to what a number of experts in the Iraqi economy spoke to Shafaq News Agency.
In this context, oil expert, Kovind Sherwani, says, “The system of paying and paying bills by electronic card represents a modern method for financial transactions, and is characterized by speed of completion and accuracy in conducting transactions. It also reduces dependence on cash liquidity in transactions, which is usually susceptible to damage and therefore requires "Compensation."
Sherwani added to Shafaq News Agency, “As for dealing with cards, it reduces dependence on currency, whether paper or cash, thus reducing damage and saving the state other amounts. The payment system also represents a safe way to complete financial transactions instead of carrying large sums of money in the wallet.” It may be vulnerable to loss or theft.
But the problems that hinder the implementation of this system in Iraq, according to Sherwani, may be “the lack of familiarity of the common citizen, especially those with limited education, or those with self-employed and earning jobs, as well as the fees that are collected from every sale or purchase with these cards.”
He calls for “the commission to be low to be an incentive for the citizen to adopt the cards and not be an obstructing factor for him, because adopting the card is a preliminary step toward electronic banking without the need to visit the bank and deal paper-wise with currencies, whether withdrawing or depositing.”
He continues, “Therefore, getting used to these cards will be a paving step for the citizen who is not accustomed to checking with banks to get used to opening credits and accounts, completing commercial transactions, etc., and even salaries, as found in the smart card and Key Card, are transferred electronically to the accounts, and the employee or retiree is able to receive his salary from any A key card point or agency anywhere in Iraq.
He points out that "employees are accustomed to this system, but non-employees who are self-employed and gainful employees may find this matter new to them, but with the passage of time they will realize the benefits that electronic payment brings."
For his part, MP Kazem Jarro, a member of the Oil and Gas Committee in the Iraqi Parliament, says, “In most government and private gas stations, the worker takes an additional amount for himself, so electronic payment will end this matter.”
The representative continued to Shafaq News Agency, “Putting money in the MasterCard will transfer money from the citizen’s wallet to the state’s balance, so electronic payment has many benefits and will reduce corruption.”
Regarding the fate of workers in the stations, he confirms that “these will continue working and will not be affected. Their numbers in the sales department may be reduced to provide payment devices that carry out their tasks, and the surplus will be distributed to the departments of the Petroleum Products Distribution Company, so the payment devices will not cause unemployment, but the workers may be affected by them.” In private stations, as a result of the availability of devices that perform their role, their numbers may be reduced.”
In turn, the Vice President of the Union of Bottling Factories and Gas Services, Abbas Mahyoub, points out that “most citizens do not have a Visa card, and according to my field of work, a problem may occur in the process of selling gas, as the gas agent who roams within the cities to sell gas to citizens, finds that Most families do not have electronic payment cards.”
Mahyoub added to Shafaq News Agency, “Although the Visa card is available, there is a commission when loading and withdrawing it, so this is a loss for the user, and although the issue has many benefits, this commission may lead to an increase in prices to cover these commissions.”
On January 7, the Prime Minister, Muhammad Shiaa Al-Sudani, directed that citizens be spared additional financial burdens resulting from commissions, during a meeting devoted to following up on the financial and economic transition to electronic payment, points of sale, and financial trading with electronic cards (POS).
Al-Sudani confirmed, according to a statement issued by his media office, that the goal is to facilitate dealing and facilitate payment in all fields, while ensuring the highest levels of security.
Demands the provision of POS devices in public places
Most markets and fuel filling stations lack POS devices, despite the Council of Ministers’ directives to implement the electronic payment system in state institutions, the private sector, commercial centers, stores, markets, and other entertainment facilities.
Citizens still lack the provision of POS devices, and there are demands from the Central Bank, banks, and electronic payment companies to provide POS points of sale and make them accessible to citizens for use with electronic cards in shopping and paying instead of cash.
The Central Bank of Iraq announced, at the beginning of last June, that Cabinet Resolution No. (23044) for the year 2023 had entered into force, which was to increase the number of electronic payment devices (POS) in government institutions and the private sector to enhance the culture of electronic payment and collection, and reduce the use of paper money in Collection and commercial transactions.
It is noteworthy that the Board of Directors of the Central Bank of Iraq decided, on December 13, to establish the “National Company for Electronic Payment Systems” throughout the country, indicating that the company represents a qualitative development in the structure of the country’s financial infrastructure.
According to the Iraqi Central Bank statement, this step coincides with the rapid growth in electronic financial services and products and the rise in the number of users in accordance with the framework of the government program to support and adopt advanced electronic payment systems.
In turn, the Iraqi Private Banks Association revealed, on December 12, a growth in accounts, bank cards and electronic payment devices after the great support provided by Prime Minister Muhammad Shia al-Sudani and the Central Bank of Iraq to the banking sector, through activating electronic payment in government and private institutions and reform in Foreign trade financing mechanisms.
The association’s executive director, Ali Tariq, said in a press statement that bank accounts grew by 14%, reaching 10.02 million bank accounts by September 30, 2023, after at the end of 2022 there were more than 8.79 million accounts, which means the creation of more than 1.2 million. Account within 9 months. LINK
Iraq Economic News and Points to Ponder Thursday Evening 2-22-24
Iraq Economic News and Points to Ponder Thursday Evening 2-22-24
Tlm724 Administrator Bondlady’s Corner
Al-Alaq Denies To Al-Iqtisad News The Existence Of A Liquidity Crisis In The Iraqi Dinar
Money and business Economy News – Baghdad The Governor of the Central Bank of Iraq, Ali Al-Alaq, denied reports that there was a problem in providing the dinar.
Al-Alaq said in his speech to Al-Iqtisad News, on the sidelines of the workshop on enhancing electronic government collection, organized by the Iraqi Private Banks Association, today, Thursday, that “everything that is being raised about a problem in providing the Iraqi dinar, or a liquidity crisis, is not true.”
He added that the Central Bank did not stop for a single moment in responding to the Ministry of Finance’s liquidity requests.
The Dollar Rises Against The Iraqi Dinar
Economy | 01:45 - 02/22/2024 Mawazine News – Baghdad The exchange rates of the dollar against the dinar recorded a slight increase today, Thursday, in the local markets in the capital, Baghdad, and the central Kifah and Harithiya stock exchanges recorded a price of 152,300 Iraqi dinars against 100 US dollars.
Iraq Economic News and Points to Ponder Thursday Evening 2-22-24
Tlm724 Administrator Bondlady’s Corner
Al-Alaq Denies To Al-Iqtisad News The Existence Of A Liquidity Crisis In The Iraqi Dinar
Money and business Economy News – Baghdad The Governor of the Central Bank of Iraq, Ali Al-Alaq, denied reports that there was a problem in providing the dinar.
Al-Alaq said in his speech to Al-Iqtisad News, on the sidelines of the workshop on enhancing electronic government collection, organized by the Iraqi Private Banks Association, today, Thursday, that “everything that is being raised about a problem in providing the Iraqi dinar, or a liquidity crisis, is not true.”
He added that the Central Bank did not stop for a single moment in responding to the Ministry of Finance’s liquidity requests. Views 131 02/22/2024 https://economy-news.net/content.php?id=40761
The Dollar Rises Against The Iraqi Dinar
Economy | 01:45 - 02/22/2024 Mawazine News – Baghdad The exchange rates of the dollar against the dinar recorded a slight increase today, Thursday, in the local markets in the capital, Baghdad, and the central Kifah and Harithiya stock exchanges recorded a price of 152,300 Iraqi dinars against 100 US dollars.
The dollar exchange rates in banking shops and local markets, where the selling price reached 153,250 dinars, while the purchase price reached 151,250 dinars for every 100 dollars.
https://www.mawazin.net/Details.aspx?jimare=242558
The Governor Of The Iraqi Central Bank Identifies The Advantages Of “Electronic Collection”: A Very Important Episode
Economy News – Baghdad Today, Thursday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, described the issue of electronic collection as an “important episode,” and while he pointed to the advantages of collection, he stressed the Central Bank’s commitment to supporting this initiative.
Al-Alaq said in a speech during a workshop organized by the Iraqi Private Banks Association, and attended by an “Al-Iqtisad News” correspondent, that “the launch of the electronic collection project comes as a translation of the commitment of the Central Bank and the banks and financial institutions subject to the supervision of the Central Bank to implement its vision and strategic objectives to develop the financial banking sector in Iraq.”
He added, "The project will contribute significantly to enhancing government resources and collecting them in a reliable, secure and transparent environment, relying on the infrastructure in payment systems and electronic payment platforms provided by the Central Bank and providing payment services."
Al-Alaq stated, “This project generally targets all governmental ministries, as well as non-governmental ministries, unions, and associations from which the amounts are collected,” pointing out that “this project will enable the automation of all collection operations, the adoption of electronic payment tools, and the reduction of cash transactions, which in turn will help reduce the burden of burden on citizens by accelerating the completion of transactions.”
The Governor of the Central Bank explained, “Customers can choose the time and place they want to pay bills, and this will save time and effort and provide services to pay citizens through multiple payment channels with a high degree of trust and security.”
He pointed out that “this matter increases collection rates, reduces costs, reduces the risks of cash dealing, raises the efficiency of the service provided to the citizen, and obtains integrated data and reports,” considering that “electronic collection is an important link among the links seeking to reduce the phenomenon of the cash economy, which the Central Bank seeks to achieve.”
Working on it at several levels for optimal use of transportation and expanding financial inclusion.”
Al-Alaq stressed, “The Central Bank affirmed its full commitment, in partnership with its colleagues, to support this initiative by supporting the growth and use of the local economy while preserving its stability and status through cooperation and purposeful challenge.”
266 views 02/22/2024 - 11:04 AM https://economy-news.net/content.php?id=40752
Al-Sudani: The Government Has Placed Economic And Banking Reform Among Its Most Important Priorities
Economy | 06:04 - 02/22/2024 Mawazine News – Baghdad Prime Minister Muhammad Shiaa Al-Sudani confirmed, on Thursday, that the government has placed the issue of economic and banking reform among its most important priorities.
The Prime Minister’s Media Office stated in a statement received by Mawazine News, “Today, Sudani received Andrew Toure, the regional president of Visa for Central and Eastern Europe, the Middle East and Africa, and his accompanying delegation.”
Al-Sudani said - according to the statement - that “the government has placed the issue of economic and banking reform among its most important priorities, and it seeks and welcomes cooperation in this field, pointing to the approval of the electronic payment system in the Council of Ministers.”
He praised, "the company's cooperation in expanding electronic payment technology and digital transformation, whether through training workers in Iraq or by contributing to education about the electronic payment process."
For his part, Andrew expressed “the desire to continue cooperation with the Central Bank of Iraq and all Iraqi banking sector institutions,” noting “Visa’s interest in supporting the Iraqi government’s plans towards electronic payment and economic and banking reform, by introducing advanced solutions and technologies to the market, as well as its readiness to bring expertise, in addition to employing more Iraqis in its office in Baghdad, with the aim of reaching 500,000 acceptance points from electronic payment points of sale in Iraq.” https://www.mawazin.net/Details.aspx?jimare=242574
Prime Minister: The Importance Of The Partnership Between Iraq And The United States
Political | 08:08 - 02/22/2024 Mawazine News – Baghdad Prime Minister Muhammad Shiaa Al-Sudani stressed the importance of moving to a bilateral relationship with Washington governed by the Strategic Framework Agreement, stressing the importance of the partnership between Iraq and the United States.
The office of Prime Minister Muhammad Shia Al-Sudani said, received by Mawazine News, that “he received a member of the Foreign Relations Committee in the US Congress, Senator Christopher Coons.
Al- Sudani explained” the importance of the partnership between Iraq and the United States, stressing the transition to a bilateral relationship governed by the strategic framework agreement between the two countries, after... Completing the tasks of the international coalition, according to a specific timetable.
He stressed "the necessity of stopping the war in Gaza and ending the genocidal war committed by the occupation forces, especially with the advent of the holy month of Ramadan."
For his part, Senator Coons confirmed that his tour in the region and his meeting with the Prime Minister came at the request of President Joe Biden, noting that The depth of the partnership between the United States of America and Iraq, and the necessity of expanding it to include economic, cultural, and health aspects, in addition to the security aspects that take place in accordance with the meetings of the Supreme Military Committee. He also stressed the necessity of achieving stability and peace in the Middle East and a ceasefire in Gaza and the Palestinian territories.
https://www.mawazin.net/Details.aspx?jimare=242584
To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/
Provoking Points To Ponder on Inspiration:
Every true man, sir, who is a little above the level of the beasts and plants, lives so as to give a meaning and a value to his own life. - Luigi Pirandello
Never let go of that fiery sadness called desire. - Patti Smith
For every man there exists a bait which he cannot resist swallowing. - Friedrich Nietzsche
The moment somebody says to me, "This is very risky," is the moment it becomes attractive to me. Kate Capshaw
Discontent is the first step in progress. No one knows what is in him till he tries, and many would never try if they were not forced to. - Basil W. Maturin
All progress is based upon a universal, innate desire on the part of every living organism to live beyond its income. - Samuel Butler
It is the spur of ignorance, the consciousness of not understanding, and the curiosity about that which lies beyond that are essential to our progress. - John Pierce
One starts an action simply because one must do something. - T. S. Eliot
What you are must always displease you, if you would attain to that which you are not. - Saint Augustine
If you're good to your staff when things are going well, they'll rally when times go bad.- Mary Kay Ash
Famous Quotes and Authors, Famous Quotations for all Occasions
Goldilocks' Comments and Global Economic News Thursday Evening 2-22-24
Goldilocks' Comments and Global Economic News Thursday Evening 2-22-24
Good Evening Dinar Recaps,
Several companies are delisting their shares on the market as of late. There is a reason for that happening.
"Being delisted does not mean that a company is no longer public. In fact, shareholders can still trade their shares on a smaller exchange, or “over-the-counter.” However, being delisted normally leads to a devaluation of the stock, and decreased liquidity for investors."
Sometimes mergers take place to cause these things, or a cash-out opportunity takes place. There are many reasons for this happening. I am just noticing that there are several taking place right now.
Several companies are just not able to meet compliance issues for the SEC such as capital requirements or collateralization of their company is more than they can afford due to losses happening in the market.
Many companies are facing the consequences of having not switched over to SOFR lending services last year when it became available. The system is changing my friends. IPO Hub Investopedia SEC
© Goldilocks
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Goldilocks' Comments and Global Economic News Thursday Evening 2-22-24
Good Evening Dinar Recaps,
Several companies are delisting their shares on the market as of late. There is a reason for that happening.
"Being delisted does not mean that a company is no longer public. In fact, shareholders can still trade their shares on a smaller exchange, or “over-the-counter.” However, being delisted normally leads to a devaluation of the stock, and decreased liquidity for investors."
Sometimes mergers take place to cause these things, or a cash-out opportunity takes place. There are many reasons for this happening. I am just noticing that there are several taking place right now.
Several companies are just not able to meet compliance issues for the SEC such as capital requirements or collateralization of their company is more than they can afford due to losses happening in the market.
Many companies are facing the consequences of having not switched over to SOFR lending services last year when it became available. The system is changing my friends. IPO Hub Investopedia SEC
© Goldilocks
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"Harvard International Law Conference: Bretton Woods 3.0 and the Future of International Economic Law"
Description:
"Join the Harvard International Law Journal and Law & International Development Society for our Spring 2024 conference titled: "Bretton Woods 3.0? Emerging Questions and Changes in International Economic Law.
The event will occur throughout the day of March 2, 2024 at Austin Hall on the Harvard Law School campus.
This year's conference features four panels and one keynote speech focusing on the changing nature of multilateral cooperation in international economic law. Each discussion will cover key topics related to this theme, drawing on experts from the legal industry, academia, and intergovernmental organizations."
* This is not an announcement. It is a conference. Yet, what is being discussed just so happens to be what we are looking to hear.
A conference is a gathering of people to learn new ideas and share what the experts have to say about what is currently taking place in the world inside their professions.
I have heard it said long ago, and you have heard many of the ideas presented to you come from academic sources. Why? Academia teaches what is about to happen before it happens and as it is happening. All you have to do is look at their syllabi and know what is taking place in the world for it is taught long before it is brought into being. ASIL
©✓Goldilocks
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The latest FOMC meeting notes recently told us that quantitative tightening or holding on to higher interest rates for longer will be used until the midpoint of the year.
It is one of the ways the Fed lowers their balance sheet and creates liquidity for the markets. So far, we are being told that their intentions to begin the process of lowering interest rates will begin sometime in May or June.
June is the most likely scenario as MICA stablecoin and crypto regulations in Europe will be completed by that time. The lowering of interest rates will create a bull market, and the markets are expected to do very well with this pivot.
It will give more purchasing power to the dollar, more purchasing power to our tokenized assets, and more purchasing power to Gold. We will be inside a new digital economy by that point. Many of the global assets will be digitized by that time and are expected to be at 90% by the end of the year.
The growth of the new economy is expected to commence the second half of this year allowing our money across the world to begin noticing more liquidity inside the Forex markets. Investopedia Wolf Street
©✓Goldilocks
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"India to Develop GIFT City Currency Derivatives Market"
A Currency Derivative Market utilizes an underlying asset to support the currency being sold as an asset.
Remember, all assets on the market including Forex are to be tokenized and tokens are supported by commodities such as gold.
Can you see what's happening here? All roads lead to gold, and "digital gold" will set us free. IFSCA
Watch Gold.
© Goldilocks
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It looks like our currency markets are finally getting some attention.
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Banking Announcement:
"JAPAN ADVANCES LEGISLATION TO ENABLE INVESTMENT FUNDS TO HOLD CRYPTO ASSETS" | Crypto Politain
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Gold Announcement:
Kinka Gold has issued its first tranche of $XNK tokens onto the market, opening retail adoption with its listing on CoinW. The tokens represent an exciting time for gold on the blockchain, with tokenized gold predicted to become a mainstay in DeFi markets, especially as more institutional investors begin adopting crypto, and more use-cases for on-chain gold are developed.
Kinka Gold is 100% reserve-backed by premium 99.9% Japanese gold that conforms to all LBMA standards. The gold is held in bankrupt-remote vaults, is fully audited, and is entirely compliant with all Japanese regulations. The price of each $XNK token is pegged directly to the price of gold, with 1 $XNK equivalent to one fine troy ounce of gold that meets LBMA standards.
The gold is issued by a subsidiary of Daiichi Commodities, a Japanese trading house that has been trading gold for over 40 years. Crypto Mode
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Monetary Authority of Singapore Announcement:
MAS/TCRS/2024/01 : Advisory on Addressing the Cybersecurity Risks Associated with Quantum
This advisory outlines cybersecurity risks arising from developments in quantum computing, and highlights mitigating measures that financial institutions should consider.
VIEW DOCUMENTMAS/TCRS/2024/01 : Advisory on Addressing the Cybersecurity Risks Associated with Quantum (135.3 KB)
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No investors, let alone billionaires, will want to own stocks with falling profit margins and shrinking dividends. So if that's why Buffett, Paulson, and Soros are dumping stocks, they have decided to cash out early and leave Main Street investors holding the bag. Safe Retirement Strategies
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Soon, people are going to look for places they can put their money in safe havens. Digital assets will be right in their faces. Gold and crypto. The first movers of the new economy.
©✓Goldilocks
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Thank you, The SOWT Tech Team
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